Ethereum Accumulation Addresses Pin $2.9K Realized Price – Strong Support Ahead?

Ethereum is navigating a critical phase in the market after shedding more than 14% of its value since September ￰0￱ second-largest cryptocurrency has entered a corrective stage following weeks of strong price surges that carried it to multi-month ￰1￱ the recent downturn, sentiment among analysts and investors remains cautiously optimistic, with many expecting ETH to rebound once bullish momentum ￰2￱ of the most important signals supporting this view comes from CryptoQuant, which reports that the average realized price of Ethereum accumulation addresses is around $2.9K. This level has become a key reference point for traders, as it suggests that long-term holders and accumulation wallets are positioned at a much higher cost basis compared to past ￰3￱ practical terms, this could act as a strong support zone, reducing downside risk and strengthening confidence in Ethereum’s ability to hold ￰4￱ corrective phase also fits within the broader narrative of market consolidation, where temporary pullbacks often reset overheated indicators before the next ￰5￱ volatility may persist in the short term, ETH’s fundamentals, combined with resilient onchain signals , continue to fuel expectations of a recovery and renewed strength in the weeks ￰6￱ Accumulation Levels Signal Critical Support According to top analyst Burak Kesmeci, Ethereum’s realized price for accumulation addresses has become one of the most important signals in the current market ￰7￱ the ETH ETF rally, this metric surged significantly, rising from $1.7K to $2.9K in a relatively short ￰8￱ a sharp increase underscores the aggressive positioning of long-term holders who accumulated ETH at higher valuations, effectively raising the overall cost basis of this critical ￰9￱ the same time, the total balance in these addresses has climbed to 27.6 million ETH, a staggering amount that highlights the scale of conviction among accumulation ￰10￱ suggests that a large portion of the supply is now held by investors with strong hands, reducing the likelihood of panic selling and providing a stabilizing effect on the ￰11￱ notes that, in the worst-case scenario, the $2.9K realized price could act as a robust support zone, offering a defensive line against further downside.

However, the coming days will serve as a crucial test for ETH ￰12￱ above current levels will be essential to avoid a deeper correction that could undermine the bullish momentum built up in recent ￰13￱ Critical Support Ethereum (ETH) is showing weakness after its recent decline, with the chart reflecting a sharp selloff from local highs above $4,600 down to the $4,100 area. Currently, ETH is trading around $4,173, sitting just above the 200 EMA at $4,106, which now acts as critical support. A sustained defense of this level is key to preventing a deeper ￰14￱ 50 EMA at $4,402 has turned downward, highlighting short-term bearish momentum and reinforcing the idea that sellers are in ￰15￱ ETH can reclaim the 50 EMA decisively, pressure may ￰16￱ said, the fact that the 200 EMA is still sloping upward suggests the long-term trend remains intact, even if the market is entering a corrective ￰17￱ a technical perspective, the rejection near $4,600 created a lower high, a sign of caution for bulls.

However, if ETH manages to stabilize above $4,100 and form a base, a rebound toward $4,400 remains possible; conversely, a break below the 200 EMA could expose the $3,800–$3,900 zone as the next major ￰18￱ image from Dall-E, chart from TradingView